Electric vehicle stocks

With Tesla now worth more than a trillion dollars in market cap, and newcomer Rivian set to launch an IPO this week, you may be thinking about adding electric vehicle stocks to your portfolio.

Tesla’s stock is up 181% over the last year and a whopping 3,000% in five years. Rivian, which has delivered relatively few of its electric trucks thus far, is seeking an IPO valuation of as much as $80 billion. That would match the market cap of storied automaker Ford.

Next to the market will be Sono Motors, which has filed for an IPO on Nov. 17. Sono is developing an electric car that incorporates solar panels and can also be plugged in.

These names appear priced for anticipated growth, as are most of the smaller names in this sector. Here’s a look.

Status of the sector

Global numbers of electric vehicle registrations were up 60% in March 2022 compared to March 2021, according to the website Cleantechnica. There’s little sign of demand fading.

But newcomers in the area, like Rivian, do find themselves competing with giants like Ford (F), General Motors (GM) and Nissan, as well as Tesla. It’s far from clear who the winners in this sector will be.

Notably, companies that make charging stations could also see a spark as these would be crucial to supporting more EVs on the road. Plus, lithium stocks may be on your watchlist as the element is used to make electric car batteries.

Key companies in the electric vehicle sector

Here are some stocks you may want to research.

General Motors and Ford

While these are far from pure plays in electric vehicles, both have vehicles in the sector along with ready distribution networks. Ford, notably, was an early backer of Rivian, which is also supported by Amazon (AMZN).

Tesla

Tesla recently joined the $1 trillion club, one of only 5 US companies worth more than $1 trillion. While its sky high price-to-earnings ratio still bothers some analysts, sales continue to grow strongly.

Fisker (FSR)

The startup EV maker is currently valued at about $5.6 billion, and analysts who cover it rate it a buy. Production cars are still a year away.

Bollinger Motors

This New York company is working on off-road vehicles targeted at consumers seeking ruggedly-built rides powered by clean energy. While the company has yet to roll its first Hummer-like truck or SUV off the lot, it’s currently letting people reserve their vehicles. The company is not yet public, so there’s no stock.

Workhorse Group (WKHS)

Workhorse is working on electric delivery vans and other projects. It generated some excitement earlier this years with shares peaking about $40, but they’ve fallen to below $7.

Blink Charging (BLNK)

Blink Charging is a major manufacturer of charging stations for EVs. According to Biden’s climate plan, he intends to work with local government officials to deploy more than 500,000 new public charging outlets by the end of 2030.

NIO (NIO)

This Chinese EV company also gained steam in 2020 and saw a 113% increase in car deliveries compared to the previous year. It sold more than 1 million vehicles in 2020 and that number can turn into 10 million by 2030, according to research organization BloombergNEF.

Hyundai

The well-known car maker from South Korea has spent the last few years expanding its fleet of EVs. Earlier this month, it announced plans to partner with Apple to start producing autonomous electric cars by 2024. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

• General Motors Company (GM.US)

  Company summary

  General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, and Wuling brand names. The company also sells trucks, crossovers, cars, and purpose-built vehicles to dealers for consumer retail sales, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. In addition, it offers safety and security services for retail and fleet customers, including automatic crash response, emergency services, roadside assistance, crisis assist, stolen vehicle assistance, and turn-by-turn navigation; and connected services comprising mobile applications for owners to remotely control their vehicles and electric vehicle owners to locate charging stations, on-demand vehicle diagnostics, smart driver, marketplace in-vehicle commerce, in-vehicle voice, voice assistant, navigation and app ecosystem, connected navigation, SiriusXM with 360L, and 4G LTE wireless connectivity, as well as develops and commercializes autonomous vehicle technology. Further, the company provides automotive financing and insurance services; and software-enabled services and subscriptions. General Motors Company was founded in 1908 and is headquartered in Detroit, Michigan.

  Historical performance

  Stock information

  • Market capitalization: $50498850816
  • P/E ratio: 5.7515
  • PEG ratio: 1.1168
  • Dividend yield: 0%

  Get more detailed information and learn how to buy GM.US stock

• Ford Motor Company (F.US)

  Company summary

  Ford Motor Company designs, manufactures, markets, and services a range of Ford trucks, cars, sport utility vehicles, electrified vehicles, and Lincoln luxury vehicles worldwide. It operates through three segments: Automotive, Mobility, and Ford Credit. The Automotive segment sells Ford and Lincoln vehicles, service parts, and accessories through distributors and dealers, as well as through dealerships to commercial fleet customers, daily rental car companies, and governments. The Mobility segment designs and builds mobility services; and provides self-driving systems development services. The Ford Credit segment primarily engages in vehicle-related financing and leasing activities to and through automotive dealers. It provides retail installment sale contracts for new and used vehicles; and direct financing leases for new vehicles to retail and commercial customers, such as leasing companies, government entities, daily rental companies, and fleet customers. This segment also offers wholesale loans to dealers to finance the purchase of vehicle inventory; and loans to dealers to finance working capital and enhance dealership facilities, purchase dealership real estate, and other dealer vehicle programs. The company has a strategic collaboration with ARB Corporation Limited to develop a suite of aftermarket products for the new Ford Bronco. Ford Motor Company was incorporated in 1903 and is based in Dearborn, Michigan.

  Historical performance

  Stock information

  • Market capitalization: $47544877056
  • P/E ratio: 4.1951
  • PEG ratio: 0.2814
  • Dividend yield: 0.0356%

  Get more detailed information and learn how to buy F.US stock

• Tesla (TSLA.US)

  Company summary

  Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits. It provides sedans and sport utility vehicles through direct and used vehicle sales, a network of Tesla Superchargers, and in-app upgrades; and purchase financing and leasing services. This segment is also involved in the provision of non-warranty after-sales vehicle services, sale of used vehicles, retail merchandise, and vehicle insurance, as well as sale of products to third party customers; services for electric vehicles through its company-owned service locations, and Tesla mobile service technicians; and vehicle limited warranties and extended service plans. The Energy Generation and Storage segment engages in the design, manufacture, installation, sale, and leasing of solar energy generation and energy storage products, and related services to residential, commercial, and industrial customers and utilities through its website, stores, and galleries, as well as through a network of channel partners. This segment also offers service and repairs to its energy product customers, including under warranty; and various financing options to its solar customers. The company was formerly known as Tesla Motors, Inc. and changed its name to Tesla, Inc. in February 2017. Tesla, Inc. was incorporated in 2003 and is headquartered in Austin, Texas.

  Historical performance

  Stock information

  • Market capitalization: $763663679488
  • P/E ratio: 99.6108
  • PEG ratio: 1.6574
  • Dividend yield: 0%

  Get more detailed information and learn how to buy TSLA.US stock

• Fisker (FSR.US)

  Company summary

  Fisker Inc. develops, manufactures, markets, leases, or sale of electric vehicles. The company is also involved in asset-light automotive business. It operates through The White Space, The Value Segment, and The Conservative Premium segments. In addition, the company offers fisker flexible platform agnostic design ,a process that develops and designs electric vehicles in specific segment size. The company was incorporated in 2016 and is headquartered in Manhattan Beach, California.

  Historical performance

  Stock information

  • Market capitalization: $2731368960
  • Dividend yield: 0%

• Workhorse Group (WKHS.US)

  Company summary

  Workhorse Group Inc., a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. The company offers electric and range-extended medium-duty delivery trucks under the Workhorse brand; and HorseFly Unmanned Aerial System, a custom-designed purpose-built all-electric drone system. It also provides Metron, an air delivery application that tracks the performance of various the vehicles deployed. The company was formerly known as AMP Holding Inc. and changed its name to Workhorse Group Inc. in April 2015. Workhorse Group Inc. was founded in 2007 and is headquartered in Loveland, Ohio.

  Historical performance

  Stock information

  • Market capitalization: $510157408
  • PEG ratio: 0
  • Dividend yield: 0%

  Get more detailed information and learn how to buy WKHS.US stock

• Blink Charging (BLNK.US)

  Company summary

  Blink Charging Co., through its subsidiaries, owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States and internationally. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types. It also provides Blink Network, a cloud-based system that operates, maintains, and manages various Blink charging stations and associated charging data, back-end operations, and payment processing, as well as offers property owners, managers, parking companies, and state and municipal entities with cloud-based services that enable the remote monitoring and management of EV charging stations; and provides EV drivers with station information, including station location, availability, and applicable fees. In addition, the company provides EV charging hardware, software services, and service plans. It has strategic partnerships across transit/destination locations, including airports, auto dealers, healthcare/medicals, hotels, mixed-use, municipal locations, multifamily residential and condos, parks and recreation areas, parking lots, religious institutions, restaurants, retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations. The company offers its services through direct sales force and resellers, as well as sells residential Level 2 chargers through various internet channels. As of March 10, 2022, it deployed approximately 30,000 charging ports. Blink Charging Co. was founded in 2009 and is headquartered in Miami Beach, Florida.

  Historical performance

  Stock information

  • Market capitalization: $783482880
  • Dividend yield: 0%

  Get more detailed information and learn how to buy BLNK.US stock

• Nio Inc Class A ADR (NIO.US)

  Company summary

  NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. It offers five, six, and seven-seater electric SUVs, as well as smart electric sedans. The company is also involved in the provision of energy and service packages to its users; design and technology development activities; manufacture of e-powertrains, battery packs, and components; and sales and after sales management activities. In addition, it offers power solutions, including Power Home, a home charging solution; Power Swap, a battery swapping service; Power Charger, a fast-charging solution; Power Mobile, a mobile charging service through charging vans; Power Map, an application that provides access to a network of public chargers and their real-time information; and One Click for Power valet service, where it offers vehicle pick up, charging, and swapping services. Further, the company provides repair, maintenance, and bodywork services through its NIO service centers and authorized third-party service centers; statutory and third-party liability insurance, and vehicle damage insurance through third-party insurers; courtesy vehicle services; roadside assistance; data packages; and auto financing and financial leasing services. Additionally, it offers NIO Certified, a used vehicle inspection, evaluation, acquisition, and sales service. The company was formerly known as NextEV Inc. and changed its name to NIO Inc. in July 2017. NIO Inc. was incorporated in 2014 and is headquartered in Shanghai, China.

  Historical performance

  Stock information

  • Market capitalization: $40226365440
  • Dividend yield: 0%

  Get more detailed information and learn how to buy NIO.US stock

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Why invest in the electric vehicle sector?

The electric vehicle sector has been driving on an upward road in recent years as it hit record sales, and companies like Tesla found themselves among the biggest in the world.

President Biden has helped bolster it this year, first with a proposal to replace the federal vehicle fleet with electrics, and more recently with $7.5 billion in the recent infrastructure bill passed by Congress to set up more charging stations nationwide.

And while the EV fleet initiative remains uncertain, it’s clear that Biden is determined on pursuing a clean energy agenda. The electric-vehicle sector can benefit from this.

For investors, the sector can present a couple of challenges. The major old-line automakers do make electrics, but investing in them means buying into their whole businesses, not just EVs. That leaves Tesla and some smaller names that just aren’t rolling out cars yet.

What unique risks does the electric vehicle sector face?

Even though the electric vehicle sector is surging right now, it’s no guarantee it will stay hot into the future. Here are some points to keep in mind:

• Market share: Despite recent optimism in the EV sector, it’s not clear when or if electric vehicles would dominate the roads.
• Building materials: Lithium-ion batteries power today’s electric vehicles. A spark in the EV sector would drive demand for this finite resource, which can be difficult to mine. And its environmental impact could put environmentally conscious customers at odds with manufacturers. Moreover, regulations on lithium emissions may indirectly have a negative impact on the electric vehicle sector.
• Company hype: Electric cars can sound like all the rage today, but there are still some EV companies that are nowhere near the finish line when it comes to production and quality. Semi truck manufacturer Nikola was even accused of fraud over its technology claims, and that stock plunged in late 2020 after seeing a steady rise.

Bottom line

It’s tempting to follow this trend and even look for the next Tesla, but particularly with young companies, due your due diligence before planing your bet. To invest, you’ll need to open a brokerage account. Compare your stock-trading platforms to find one that’s right for you.